bankruptcy lawyers

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Filing for bankruptcy is a rather complicated process. You can do it on your own if you think that your knowledge and experience are enough for that. However, it is highly recommended to seek professional advice and hire an experienced lawyer to assist you in most cases. We have collected five significant reasons why this option is better.

1. Lawyers Are Familiar with the Process

Lawyers and attorneys have more legal experience than an average citizen. If these professionals specialize in debt relief and work for a bankruptcy law firm, they know the whole process in more detail. They know what documents are needed exactly, what deadlines are determined by law, and what is the generally accepted procedure. Hiring the right professional will simplify your task, save time, and help you get out of bankruptcy in the best possible way.

2. They Know All Chapters

This point logically follows the previous one. Bankruptcy lawyers determine which chapter you need to file for. Few people know that there are not two, but six of them:

  • Chapter 7 is the so-called liquidation bankruptcy;
  • Chapter 13 is called "wage earner plan" and allows you to develop a plan for full or partial debt payment;
  • Chapter 9 is for municipalities;
  • Chapter 11 is a reorganization bankruptcy and can be used by businesses and individuals;
  • Chapter 12 is for family fishermen and farmers;
  • Chapter 15 applies to foreigners. 

Typically, the first two Chapters are the most common lawyers have to deal with. However, here, too, there may be difficulties in choosing; therefore, professional advice is required.

3. They Know All the Subtleties

For the legal sphere, it is essential not only to know all laws and acts but also such trifles as business language and correct dialogue with judges. These are skills that cannot be learned from books; they are acquired through experience. The inside information held by bankruptcy lawyers helps solve a case in your favor and get out of a difficult situation in the best possible way.

4. You Don't Have to Deal With Creditors

Lawyers conduct all interactions on your behalf. It also includes working with lenders, with whom communication is rarely pleasant. As a rule, specialists contact everyone you borrowed money from and explain that they are now processing your bankruptcy. It should put an end to calls, letters, and messages. If creditors continue to contact you, refer them to your lawyer.

5. It Saves You Money and Time

Many question whether it is worth spending money on hiring lawyers if they are already in a difficult financial situation. It is definitely worth it because, in the long run, you save money. You don't have to find out what's what, deal with all the legal subtleties, and unknowingly make mistakes that can cost you even more.

Hire Lawyer and Find Peace of Mind

Filing for bankruptcy pro se is possible but not recommended. These five points serve as serious reasons for seeking help from professionals in solving such a complicated issue. Trusting qualified specialists, you can safely deal with other household issues.

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